Vinh City: Many businesses closed and hung up transfer signs after Tet

Stroll around the streets in the areaVinh CityAt this time, it is not difficult to see that many businesses and stores are still "closed" even though Tet has long passed, many kiosks even have signs saying "return of premises", notices of transfer, lease...

Vo Thi Sau Street, near Vinh University, is usually bustling, but many kiosks are still closed after Tet due to sluggish business. Photo: PV

Ms. Le Ha, owner of a cosmetics store in Hung Binh ward, Vinh city, said: "From the 7th day of Tet, I started to reopen for business, but there were no customers. Then, on February 13, the ward was announced to be at level 4 of the epidemic. Although it was not on the list of stores that had to close, for the health of myself and my family, I had to temporarily close. Up to now, although it has been down to level 3, but judging that the upcoming business situation will not be positive, I decided to close the store and bring the goods home. Whoever buys will be shipped...".

Not only Ms. Ha, but that is also the mood of thousands of business households in Vinh City at this time. Most shops have been invested, refurbished and reopened after Tet with the hope that the epidemic situation will be controlled so that they can do business with peace of mind and make up for losses in 2021. However, the Covid-19 epidemic broke out strongly after Tet, especially when 22/25 wards and communes of Vinh City were red zones, causing the business of business households to continue to stagnate, and difficulties to pile up.

Mr. Hoang Anh Tien - Chairman of the People's CommitteeTruong Thi wardsaid: According to preliminary statistics, there are about 1,400 businesses in the ward, but many shops and kiosks are still closed. The main reason is that the Covid-19 epidemic is complicated and there are few customers, so they are not "keen" on opening stores but instead switch to online sales, both to maintain income and to minimize the risk of infection...".

Nguyen Van Cu, the busiest business street in Vinh City, also suffered from a desolate scene after Tet. Photo: PV

According to statistics, Vinh City has more than 23,000 registered business households with about 35,000 people, concentrated in central wards such as Hong Son, Ben Thuy, Hung Binh, Truong Thi, Hung Dung... Due to business difficulties, currently, the return of premises and transfer of kiosks appear frequently on the streets of Vinh City. The rental price of business premises in Vinh City has also "hit rock bottom" in recent years.

According to a survey, business booths in the Vinh University area in Ben Thuy, Truong Thi, Trung Do wards... now only fluctuate from 1.5 - 3 million VND/month depending on location and area, a 50% decrease compared to before.

On Nguyen Van Cu Street, a bustling business street in Vinh City, if the rental price of premises before the Covid-19 pandemic was from tens of millions or even over 100 million VND/month, now it is only from 10 - 30 million VND/month...

Although rental prices are at record lows, finding tenants at this time is not easy.

Signs for transfer and rental of kiosks have sprung up all over the streets of Vinh City after Tet. Photo: PV

To cope with the current sluggish situation, many stores inVinh CityMany measures have been applied such as reducing product prices and increasing promotional programs to stimulate consumer demand. Some stores have cut staff, limited large-scale imports to avoid losses, and increased advertising on social networking sites to attract customers. Landlords have committed to reducing rental prices and extending payment deadlines in the hope of finding tenants and avoiding wasting space, leading to wear and tear and deterioration.